Hello – I’m planning to open a business here, it is going to be a slow burn, I do not think there will be any revenue until 2025 as it is a side hustle. It’s an e-commerce platform within a niche vertical.
I’m going to endure costs from my own pocket: Domain name, tech, marketing, small travel fees, etc. Especially marketing and content related to create awareness in 2024.
I wanted to secure a .co.jp domain but I have to create a Limited Liability Company (Godo-Kaisha) (LLC). However, after speaking with an accountant, there is no tax advantage for myself, only for the company to carry forward the losses which is my own savings.
Therefore, I’m thinking to downgrade the domain name for a .jp, meaning a kojin jigyo (個人事æ¥), or *sole proprietorship* , shall be enough to register the domain name. In addition, the sole proprietorship should give me some tax optimizations *as I suppose* that I am eligible to claim all the expenses incurred in 2023 and 2024 as part of my next tax return in 2025. Is this correct?
If correct, the next steps should to register the sole proprietorship first, fill in the blue form before march 2024. Then will I be able to claim all expenses incurred in 2023 and 2024 as part of my tax application in March 2025. Correct?
For information, I spoke to an accountant and I am planning to take one to help me navigate but he did not mention the sole proprietorship option. I am just figuring it out myself from reading this forum and online pages. Shouldn’t an accountant be providing this type of recommendations? Maybe my assumptions are wrong therefore there is no interest for me to create a kojin jigyo (個人事æ¥), or *sole proprietorship. Or maybe because I insisted on the .co.jp hence put myself in a pigeon hole. I do not know…*
by Kooky-Perspective-44